NeoPhotonics (NYSE:NPTN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm presently has a $10.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 16.01% from the stock’s current price.
According to Zacks, “NeoPhotonics Corporation is engaged in the design and manufacture of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks. Products offered by the Company includes high-speed products that enable data transmission at 10Gbps, 40Gbps and 100Gbps, agility products such as ROADMs that dynamically allocate bandwidth to adjust for volatile traffic patterns, and access products that provide high-bandwidth connections to more devices and people over fixed and wireless networks. “
A number of other analysts also recently issued reports on NPTN. ValuEngine downgraded NeoPhotonics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. B. Riley raised their target price on NeoPhotonics from $5.75 to $6.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 9th. Rosenblatt Securities set a $13.00 price target on NeoPhotonics and gave the company a “buy” rating in a research report on Wednesday, May 9th. Finally, DA Davidson lifted their price target on NeoPhotonics from $6.00 to $7.50 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $9.61.
NeoPhotonics (NYSE:NPTN) last released its earnings results on Monday, August 6th. The semiconductor company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.06. NeoPhotonics had a negative return on equity of 28.35% and a negative net margin of 20.58%. The business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $73.56 million. During the same period last year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. equities research analysts anticipate that NeoPhotonics will post -0.87 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Needham Investment Management LLC grew its position in shares of NeoPhotonics by 4.8% in the first quarter. Needham Investment Management LLC now owns 220,000 shares of the semiconductor company’s stock valued at $1,507,000 after purchasing an additional 10,000 shares in the last quarter. Princeton Capital Management LLC grew its position in NeoPhotonics by 46.9% during the first quarter. Princeton Capital Management LLC now owns 43,517 shares of the semiconductor company’s stock worth $298,000 after buying an additional 13,900 shares in the last quarter. Bank of Montreal Can grew its position in NeoPhotonics by 30.9% during the second quarter. Bank of Montreal Can now owns 69,061 shares of the semiconductor company’s stock worth $431,000 after buying an additional 16,309 shares in the last quarter. Levin Capital Strategies L.P. purchased a new position in NeoPhotonics during the first quarter worth about $137,000. Finally, IPG Investment Advisors LLC purchased a new position in NeoPhotonics during the second quarter worth about $125,000. Institutional investors own 83.01% of the company’s stock.
NeoPhotonics Company Profile
NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks. It offers high speed products, including transmitter, receiver, and switching products for 100G (gigabits per second) and optical transmission applications over distances of 2 to 2,000 kilometers; optical components for coherent systems, including narrow linewidth tunable transmit and local oscillator lasers (NLW-ITLA) that generate ultra-pure wavelength or color for coherent transmission, as well as coherent micro-modulators, which encode the information on the intensity and phase of the optical beam; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent signals.
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